EddieJayonCrypto

 20 Dec 23

tl;dr

:A US court has imposed significant fines on Binance and its former CEO, Changpeng Zhao, for charges related to alleged money laundering operations. The fines, totaling $2.7 billion for Binance and $150 million for Zhao, were imposed for breaking US anti-money laundering laws and failing to report s...

A US court has imposed significant fines on Binance and its former CEO, Changpeng Zhao, for charges related to alleged money laundering operations. The fines, totaling $2.7 billion for Binance and $150 million for Zhao, were imposed for breaking US anti-money laundering laws and failing to report suspicious transactions.

Binance was accused of facilitating terrorist transactions and failing to report child sexual abuse material transactions. Under the leadership of current CEO Richard Teng, the exchange is expected to ensure full compliance with court orders and rebuild trust with US regulators.

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